Anantara Santorini Abu Dhabi Retreat, UAE

COMPANY PRESENTATION - November 2023

Forward Looking Statement

Statements included or incorporated in these materials that use the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events, are "forward-looking statements" within the meaning are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. MINT undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. MINT makes no representation whatsoever about the opinion or statements of any analyst or other third party. MINT does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statement.

2

AGENDA

3Q23 and 9M23 in Review

Minor Hotels

Minor Food

Corporate Information

Business Outlook &

"Back to Growth" Strategy

Anantara Mina Al Arab Ras Al Khaimah Resort, Dubai

3Q23 IN REVIEW

3Q23 & QTD Major Developments

MINOR HOTELS

MINOR FOOD

MINOR LIFESTYLE

NH Collection Maldives Havodda Resort, Maldives

Minor Hotels continued to expand its global footprint via

organic hotel openings and strategic acquisitions with 3 new

hotels in the quarter:

  • Anantara Koh Yao Yai Resort (managed) was opened in Thailand
  • NH Collection Maldives Havodda Resort was opened in the Maldives (an acquisition with a partner- ADFD)
  • Oaks Perth (MLR) was opened in Australia

Cross-branding strategy and brand upgrades continued to be

implemented throughout the quarter, expanding brands beyond their traditional markets:

  • NH was rebranded to Avani Rio Novo Venice Hotel in Italy
  • NH was rebranded to Avani Cancún Airport in Mexico

Minor Food continued its expansion across geographies:

  • The Pizza Company: signed Master Franchise Agreement with Palms Food International Singapore to introduce the brand to Singapore in 2024.
  • Sizzler: added 10 outlets in Japan following the acquisition of Sizzler brand franchisor worldwide excluding USA, Puerto Rico and Guatemala and signed for its first franchise branch to be opened in Vietnam in the beginning of next year.

Minor Food's product innovation successfully excited the market and created new revenue stream. ie. Dairy Queen

  • Premiumization Strategy: highlighted premium category of sundaes and beverages, raising average spend per customer.
  • Exciting Campaign Products "Thai Tea, Bamboo Sticky Rice, Ovaltine Volcano Blizzards": some series broke record sales of the limited-time-offerproducts that have ever been launched.
  • Minor Lifestyle entered into the increasingly popular world of art toys by opening the first Pop Mart flagship store in Thailand through a joint venture with the brand principal in China.

CORPORATE

  • MINT declared an interim cash dividend payment of Baht 0.25 per share to shareholders for operating performance during 1H23.
  • MINT completed Thailand's first syndicated sustainability-linkedloan of EUR 500 million.

5

3Q23 Y-Y Performance Recap

Core revenue growth of 12% y-y was a result of continued business improvement in hotel and restaurant businesses. Core profit of THB 2.3 billion was a third quarter record-high, a 13% y-y increase over 3Q22 and surpassing pre-pandemic level of 3Q19. All three business units generated positive profits, with Minor Food in the lead on bottom-line growth benefitting from lower raw material costs and efficient promotional spending.

REVENUE

3Q23 REVENUE CONTRIBUTION

THB million

+12% y-y

Minor

Lifestyle

Minor

50,000

1%

+3,553

+318

+1

Food

40,000

+562

39,887

39,888

35,911

35,547

20%

-94

30,000

-364

THB

20,000

39,887

10,000

million

Minor

0

Hotels

3Q22

Non-core

3Q22

Minor Hotels

NHH

Minor

Minor

3Q23

Non-core

3Q23

79%

Reported

Items

Core

excl NHH

Food

Lifestyle

Core

Items

Reported

* Excludes non-core items

NET PROFIT

3Q23 NPAT CONTRIBUTION

THB million

+13% y-y

Minor

5,000

Lifestyle

Minor

4,608

1%

Food

4,000

26%

3,000

2,011

+274

+185

-50

2,273

2,144

THB

2,000

-2,597

-149

-129

2,273

million

1,000

Minor

0

3Q22

Non-core

3Q22

Minor Hotels

NHH

Minor

Minor

3Q23

Non-core

3Q23

Hotels

73%

Reported

Items

Core

excl NHH

Food

Lifestyle

Core

Items

Reported

* Excludes non-core items 6

9M23 Y-Y Performance Recap

Operational recovery of hotels and restaurants drove core revenue in 9M23 to grow by 27% y-y. Core profit for 9M23 of Baht 4.6 billion was a significant turnaround from the core loss of Baht 360 million in 9M22, a testament to expense optimization and enhanced productivity throughout MINT's hotels, restaurants and corporate offices.

REVENUE

9M23 REVENUE CONTRIBUTION

THB million

+3,027

+27% y-y

Minor

+116

Lifestyle

120,000

+14,637

113,501

113,617

Minor

1%

100,000

89,803

89,383

+6,627

-173

Food

80,000

-420

20%

60,000

THB

40,000

113,501

million

20,000

Minor

0

Hotels

9M22

Non-core

9M22

Minor Hotels

NHH

Minor

Minor

9M23

Non-core

9M23

79%

Reported

Items

Core

excl NHH

Food

Lifestyle

Core

Items

Reported

* Excludes non-core items

NET PROFIT

9M23 NPAT CONTRIBUTION

THB million

N/A

Minor

7,000

Lifestyle

Minor

2%

Food

+984

4,630

-207

5,000

+2,051

4,423

32%

-81

3,000

2,376

+2,037

THB

1,000

4,630

million

-1,000

(360)

Minor

Hotels

-3,000

-2,736

66%

9M22

9M22

Minor Hotels

NHH

Minor

Minor

9M23

Non-core

9M23

Non-core

Reported

Items

Core

excl NHH

Food

Lifestyle

Core

Items

Reported

* Excludes non-core items

7

International Presence

MINT's global presence extended to 63 countries at the end of 3Q23 across its hospitality and restaurant businesses.

Minor Hotels

Minor Food

Combination

100%

75%

50%

25%

0%

REVENUE CONTRIBUTION

50%

78%

79%

International

Thailand

50%

22%

21%

2016

2022

9M23

*Excludes non-core items

8

NH Collection New York Madison Avenue, USA

MINOR HOTELS

Minor Hotels - Financial Highlights

In 3Q23, Minor Hotels posted total core revenue increase of 15% y-y as hotels in Europe, Latin America and Thailand witnessed stronger demand, leading to an increase in room rate. Revenue from mixed-use business also increased by 22% y-y in 3Q23 across most sub-business units. Its core profit increased by 8% y-y to THB 1.7 billion despite higher operating costs.

THB million

3Q23 Revenue

9M23 Revenue

+15% y-y

+32% y-y

Change (THB) Y-Y

Change (THB) Y-Y

88,730

67,465

PERFORMANCE SNAPSHOT - BY BUSINESS

27,508

31,624

Owned & Leased

18%

34%

Revenue

MLR

9%*

1%

+6% y-y

+38% y-y

Managed

18%

18%

24,983

18,067

57%

8,748

9,272

Mixed-Use

22%

EBITDA

EBITDA

31.8%

29.3%

26.8%

28.2%

BUSINESS PERFORMANCE SNAPSHOT - BY GEOGRAPHY

Margin

34%

108%

Thailand

+8% y-y

N/A

3,064

Europe & The

18%

31%

1,540

1,666

Americas

NPAT

Australia & New

9%*

1%

Net

(-1,024)

Zealand

Margin

5.6%

5.3%

N/A

3.5%

Maldives & The

3Q22

3Q23

9M22

9M23

22%

-6%

Middle East

* Mainly due to foreign exchange translation

10

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Disclaimer

Minor International pcl published this content on 17 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2023 02:43:02 UTC.